How we use your personal information

Introduction

Prospect Capital Limited (“we”, “us” and “our”) is committed to protecting your privacy. This notice sets out the personal information that we may collect or obtain about you and how we treat that information.

Prospect Capital Limited is a Jersey company with its registered address at Suite 123, Liberation Station, The Esplanade, St Helier, Jersey, JE2 3AS and includes “Smart Money” as a registered business name (“Prospect Capital”). 

1. Important information and who we are

1.1       Purpose of this Privacy Notice  

This privacy notice aims to give you information on how Prospect Capital collects and processes your personal data through your use of this website, including any data you may provide through this website, when you sign up to our newsletter, apply for a loan or service or take part in a competition.

It is important that you read this privacy notice together with any other privacy notice or fair processing notice we may provide on specific occasions when we are collecting or processing personal data about you so that you are fully aware of how and why we are using your data. This privacy notice supplements the other notices and is not intended to override them.

1.2       Controller  

For the purposes of applicable data protection legislation, we are a data controller in respect of the information that we collect or obtain about you. This is because the Prospect Capital is the person who (either acting alone or jointly with others) determines why and how your personal information is processed.

We have appointed a data protection manager (“DPM”) who is responsible for overseeing questions in relation to this privacy notice. If you have any questions about this privacy notice, including any requests to exercise your legal rights, please contact our DPM at dpm@prospectcapital.je or DPM at Prospect Capital Limited, Suite 123, Regus, The Esplanade, St Helier, Jersey, JE2 3AS.

If you have any concerns regarding our use of your information please notify our DPM as soon as possible using the contact information set-out in the ‘Introduction’ section of this privacy notice. If we cannot resolve a complaint to your satisfaction you can contact the ICO in the UK at www.ico.org.uk or in Jersey at www.oicjersey.org if the complaint relates to the way your personal information has been handled.

1.3       Changes to the Privacy Notice and your duty to Inform us of changes  

We keep our privacy policy under regular review. Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail. Please check back frequently to see any updates or changes to our privacy policy.

It is important that the personal data we hold about you is accurate and current. Please keep us informed if your personal data changes during your relationship with us, such as contact details, home ownership, employment status, marital status and bank details.

You will be required to provide us with any changes to your personal information under the agreement you enter into with us if your application for a credit or other product is accepted. If you fail to do so this may put you in breach of your agreement. 

1.4       Third-Party Links  

Our website may include links to third-party websites, plug-ins and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites and are not responsible for their privacy statements. When you leave our website, we encourage you to read the privacy notice of every website you visit.

2. The data we collect about you

Personal data, or personal information, means any information about an individual from which that person can be identified. It does not include data where the identity has been removed (anonymous data).

We may collect, use, store and transfer different kinds of personal data about you which we have grouped together as follows:

• Identity Data includes first name, maiden name, last name, username or similar identifier, marital status, title, date of birth and gender, including passport details, driving licence or other identification documents.
• Contact Data includes billing address, delivery address, email address and telephone numbers.
• Financial Data includes bank account and payment card details, bank statements, statements of assets and liabilities, accounting records or insurance policies.
• Transaction Data includes details about payments to and from you and other details of applications, loans and services you have made with us.
• Technical Data includes internet protocol (IP) address, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform and other technology on the devices you use to access this website.
• Usage Data includes information about how you use our websites, products and services and also details of the devices you use to access our websites.
• Marketing and Communications Data includes information that you provide to us when you contact us by any means, including by telephone, fill in forms on our website, use any of our products or services, or when you submit queries to us. It also includes your preferences in receiving marketing from us and our third parties and your communication preferences.
• Vehicle details where you have used one of our products to acquire a vehicle.
• Publicly available information such as the Electoral Register and details you make public on social media e.g. Facebook and Twitter.

We also collect, use and share Aggregated Data such as statistical or demographic data for any purpose. Aggregated Data may be derived from your personal data but is not considered personal data in law as this data does not directly or indirectly reveal your identity. For example, we may aggregate your Usage Data to calculate the percentage of users accessing a specific website feature. However, if we combine or connect Aggregated Data with your personal data so that it can directly or indirectly identify you, we treat the combined data as personal data which will be used in accordance with this privacy notice.

We do not collect any Special Categories of Personal Data about you (this includes details about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health and genetic and biometric data). We may, however, collect any information about criminal convictions and offences if you apply for a loan or service.

2.1       If you fail to provide personal data  

Where we need to collect personal data by law, or under the terms of a contract we have with you and you fail to provide that data when requested, we may not be able to perform the contract we have or are trying to enter into with you. In this case, we may have to cancel a product or service you have with us but we will notify you if this is the case at the time.

3. How is your personal data collected?

We use different methods to collect data from and about you including through:

• Direct interactions. You may give us your identity, contact and financial data by filling in forms or by corresponding with us by post, phone, email or otherwise. This includes personal data you provide when you:
  • apply for a loan or service;
  • subscribe to our publications;
  • request marketing material to be sent to you;
  • enter a competition, promotion or survey;
  • give us some feedback; or
  • we sometimes record telephone conversations to resolve complaints, improve our service and for training and quality assurance purposes.
• Automated technologies or interactions. As you interact with our website, we may automatically collect Technical Data about your equipment, browsing actions and patterns. We collect this personal data by using cookies, and other similar technologies. Please see our cookie policy for further details.
• Third parties or publicly available sources. We may receive personal data about you from various third parties and public sources as set out below:
  • Public Databases – we may obtain Identity and Contact Data from public databases. We use reputable sources including, but not limited to, the electoral register, the Jersey Financial Services Commission, Companies Registry and the Guernsey Financial Services Commission, as applicable. We employ appropriate measures to assure the quality of information which we collect.
  • Credit Reference Agencies – In order to process your application or manage your loan and relationship with us, we will perform credit and identity checks on you with one or more CRAs. To do this, we will supply your personal information to CRAs and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRAs will supply to us both public (including the electoral register) and shared credit, financial situation and financial history information and fraud prevention information.
  • We will use this information to: assess your creditworthiness and whether you can afford to take the loan, verify the accuracy of the data you have provided to us, manage your loan and relationship with us, prevent criminal activity, fraud and money laundering and trace and recover debts.
  • We will continue to exchange information about you with CRAs while you have a relationship with us. We will also inform the CRAs about your settled accounts. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs. 
  • When CRAs receive a search from us they will record the search on your credit file that may be seen by other lenders. 
  • If you are making a joint application, or tell us that you have a spouse or financial associate, we will link your records together, so you should make sure you discuss this with them, and share with them this information, before lodging the application. CRAs will also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs to break that link.
  • You can find further information about how credit reference agencies like CallCredit, Equifax and Experian may process your personal data and your data protection rights with the CRAs at: www.callcredit.co.uk/crain; Equifax: www.equifax.co.uk/crain; www.experian.co.uk/crain/index.html.
  • Fraud Prevention Agencies – we may obtain Identity, Contact and Financial Data from fraud prevention agencies when we verify your identity as part of our application process, we may access information recorded by fraud prevention agencies within and outside the UK. This may include information about any criminal convictions and any allegations regarding criminal activity that relate to you.
  • Intermediaries – we may obtain Identity, Contact and Financial Data from dealers, brokers and introducers for the purposes of entering into and administering your agreement.
  • Social Media Profile – we may obtain Identity and Contact Data where you have clicked through one of our promotions or event notices posted on a third party social media website such as Facebook or LinkedIn.
  • Public databases – we may obtain Identity and Contact Data from public databases. We use reputable sources including but not limited to the electoral register, the Jersey Financial Services Commission Companies Registry and the Guernsey Financial Services Commission, as applicable. We employ appropriate measures to assure the quality of information which we collect.

4. How we use your personal data

We will only use your personal data when the law allows us to. Most commonly, we will use your personal data in the following circumstances:

• Where you have applied for a product or service.
• Where we need to perform the contract we are about to enter into or have entered into with you, for example to verify your identity, for making a credit check on you or to apply credit scoring techniques.
• Where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests.
• Where we need to comply with a legal or regulatory obligation.

Generally we do not rely on consent as a legal basis for processing your personal data other than in relation to sending third party direct marketing communications to you via email or text message. You have the right to withdraw consent to marketing at any time by Contacting us.

4.1       Purposes for which we will use your personal data  

We have set out below, in a table format, a description of all the ways we plan to use your personal data, and which of the legal bases we rely on to do so. We have also identified what our legitimate interests are where appropriate.

Note that we may process your personal data for more than one lawful ground depending on the specific purpose for which we are using your data. Please Contact us if you need details about the specific legal ground we are relying on to process your personal data where more than one ground has been set out in the table below.

• Identity Data includes first name, maiden name, last name, username or similar identifier, marital status, title, date of birth and gender, including passport details, driving licence or other identification documents.
• Contact Data includes billing address, delivery address, email address and telephone numbers.
• Financial Data includes bank account and payment card details, bank statements, statements of assets and liabilities, accounting records or insurance policies.
• Transaction Data includes details about payments to and from you and other details of applications, loans and services you have made with us.
• Technical Data includes internet protocol (IP) address, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform and other technology on the devices you use to access this website.
• Usage Data includes information about how you use our websites, products and services and also details of the devices you use to access our websites.
• Marketing and Communications Data includes information that you provide to us when you contact us by any means, including by telephone, fill in forms on our website, use any of our products or services, or when you submit queries to us. It also includes your preferences in receiving marketing from us and our third parties and your communication preferences.
• Vehicle or other asset details where you apply or have used one of our products to acquire a vehicle or other asset.
• Publicly available information such as the Electoral Register and details you make public on social media e.g. Facebook and Twitter. 

Purpose/Activity	Type of data	Lawful basis for processing including basis of legitimate interest
To consider your application including credit and fraud searches or to apply credit scoring techniques, including proposing your application for a product or service to lenders and co-lending partners.	(a) Identity (b) Contact (c) Financial (d) Transaction (e) Marketing and Communications (f)   Vehicle or other asset details	To decide whether we can offer you the product or service you have applied for and to evaluate any security and/or guarantee arrangements relating to a product.
To manage our relationship with you which may include:   (a)   Taking steps prior to entering into an agreement with you, and subsequently for the administration and performance of our agreement with you; (b)   Collecting payment of fees and loan repayments; (c)    Providing you with account statements, notices; (d)   Providing you with information such as changes to your interest rate; (e)   Managing arrears on your account or enforcing any agreement that we have with you; (f)    Enforcing any security that we have in place; (g)   Notifying you about changes to our terms or privacy policy.	(a) Identity (b) Contact (c) Marketing and Communications	(a) Performance of a contract with you. (b) Necessary to comply with a legal obligation. (c) Necessary for our legitimate interests.
To enable you to partake in a prize draw, competition or complete a review or survey.	(a) Identity (b) Contact (c) Usage (d) Marketing and Communications	(a) Performance of a contract with you. (b)  Necessary for our legitimate interests (to study how customers use our products/services, to develop them and grow our business).
To administer and protect our business and this website (including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data)	(a) Identity (b) Contact (c) Technical	(a) Necessary for our legitimate interests (for running our business, provision of administration and IT services, network security, to prevent fraud and in the context of a business reorganisation or group restructuring exercise) (b) Necessary to comply with a legal obligation
To deliver relevant website content and advertisements to you and measure or understand the effectiveness of the advertising we serve to you	(a) Identity (b) Contact (c) Usage (d) Marketing and Communications (e) Technical	Necessary for our legitimate interests (to study how customers use our products/services, to develop them, to grow our business and to inform our marketing strategy)
To use data analytics to improve our website, products/services, marketing, customer relationships and experiences	(a) Technical (b) Usage	Necessary for our legitimate interests (to define types of customers for our products and services, to keep our website updated and relevant, to develop our business and to inform our marketing strategy)
To make suggestions and recommendations to you about products or services that may be of interest to you	(a) Identity (b) Contact (c) Technical (d) Usage (e) Profile	Necessary for our legitimate interests (to develop our products/services and grow our business)
Assisting third parties (such as intermediaries, brokers, lending and co-lending partners) with their management operations and managing our use of third parties, which includes: (a)   managing records about you; (b)   ensuring the type of business that third parties refer to us is appropriate; (c)    resolving any complaint made by you about a third party and/or any dispute between you and us regarding a third party.	(a) Identity (b) Contact (c) Financial (d) Transaction (e) Marketing and Communications (f)   Vehicle or other asset details	(a)  Performance of a contract with you. (b) Necessary to comply with a legal obligation. (c) Necessary for our legitimate interests. (d)  To ensure that the third party is fulfilling the terms of their agreemenst with us and that we act as a responsible lender or broker.

4.2      Marketing

We strive to provide you with choices regarding certain personal data uses, particularly around marketing and advertising.

4.3       Promotional offers from us  

We may use your Identity, Contact, Technical, Usage and Profile Data to form a view on what we think you may want or need, or what may be of interest to you. This is how we decide which products, services and offers may be relevant for you (we call this marketing).

You will receive marketing communications from us if you have requested information from us or applied for a loan or services] from us or if you provided us with your details when you entered a competition or registered for a promotion. 

4.4       Third-party marketing  

We will get your express opt-in consent before we share your personal data with any company outside the Prospect Capital Group of companies for marketing purposes.

4.5       Opting out

You can ask us or third parties to stop sending you marketing messages at any time by Contacting us at any time.

Where you opt out of receiving these marketing messages, this will not apply to personal data provided to us as a result of an application for a loan or services from us, loan/service experience or other transactions.

4.6       Cookies

You can set your browser to refuse all or some browser cookies, or to alert you when websites set or access cookies. If you disable or refuse cookies, please note that some parts of this website may become inaccessible or not function properly. For more information about the cookies we use, please see our cookie policy.

4.7       Change of purpose

We will only use your personal data for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If you wish to get an explanation as to how the processing for the new purpose is compatible with the original purpose, please Contact us.

If we need to use your personal data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so.

Please note that we may process your personal data without your knowledge or consent, in compliance with the above rules, where this is required or permitted by law.

5. Disclosures of your personal data

We may have to share your personal data with the parties set out below for the purposes set out in the table in paragraph 4 above:

• Internal Third Parties;
• External Third Parties; and
• Third parties to whom we may choose to sell, transfer, or merge parts of our business or our assets. Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your personal data in the same way as set out in this privacy notice.

We require all third parties to respect the security of your personal data and to treat it in accordance with the law. We do not allow our third-party service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes and in accordance with our instructions.

6. International transfers

The information you provide to us will be transferred to and stored on our secure servers in the European Economic Area (“EEA”) (which for the purposes of this section shall include Jersey and Guernsey. However, from time to time, your personal data may be transferred to, stored in, or accessed from a destination outside the EEA. It may also be processed by staff operating outside of the EEA who work for a company in the Prospect Capital Group or for one of our suppliers.

Whenever we transfer your personal data out of the EEA, we ensure a similar degree of protection is afforded to it by ensuring at least one of the following safeguards is implemented: 

• We will only transfer your personal data to countries that have been deemed to provide an adequate level of protection for personal data by the European Commission.
• Where we use certain service providers, we may use specific contracts approved by the European Commission which give personal data the same protection it has in Europe.
• Where we use providers based in the US, we may transfer data to them if they are part of the Privacy Shield which requires them to provide similar protection to personal data shared between the Europe and the US.

Please Contact us if you want further information on the specific mechanism used by us when transferring your personal data out of the EEA.

7. Data security

We have put in place appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.

We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

8. Data retention

8.1       How long will you use my personal data for?  

We will only retain your personal data for as long as necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, accounting, or reporting requirements.

To determine the appropriate retention period for personal data, we consider the amount, nature, and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means, and the applicable legal requirements.

If you are a customer we will retain your personal data for 7 years following the end of our relationship with you, unless we are required by law to keep it for a longer period of time (in which case, we will keep it until the expiry of the period required by law).

In some circumstances we may anonymise your personal data (so that it can no longer be associated with you) for research or statistical purposes in which case we may use this information indefinitely without further notice to you.

9. Your legal rights

Under certain circumstances, you have rights under data protection laws in relation to your personal data. Please click on the links below to find out more about these rights:

• Request access to your personal data.
• Request correction of your personal data.
• Request erasure of your personal data.
• Object to processing of your personal data.
• Request restriction of processing your personal data.
• Request transfer of your personal data.
• Right to withdraw consent.

If you wish to exercise any of the rights set out above, please Contact us.

9.1       No fee 

You will not have to pay a fee to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we may refuse to comply with your request in these circumstances.

9.2       What we may need from you  

We may need to request specific information from you to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other rights). This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.

9.3       Time limit to respond  

We try to respond to all legitimate requests within one month. Occasionally it may take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

10. Glossary

10.1     Lawful basis  

Legitimate Interest means the interest of our business in conducting and managing our business to enable us to give you the best service/product and the best and most secure experience. We make sure we consider and balance any potential impact on you (both positive and negative) and your rights before we process your personal data for our legitimate interests. We do not use your personal data for activities where our interests are overridden by the impact on you (unless we have your consent or are otherwise required or permitted to by law). You can obtain further information about how we assess our legitimate interests against any potential impact on you in respect of specific activities by Contacting us

Performance of Contract means processing your data where it is necessary for the performance of a contract to which you are a party or to take steps at your request before entering into such a contract.

Comply with a legal or regulatory obligation means processing your personal data where it is necessary for compliance with a legal or regulatory obligation that we are subject to.

10.2     Third parties  

• Internal third parties
  •  Other companies in the Prospect Capital Group and who are based in Jersey and the UK. 
• External third parties 

• • Service providers who provide IT, electronic storage or system administration services.
  • Professional advisers including lawyers, bankers, auditors and insurers who provide consultancy, banking, legal, insurance and accounting services.
  • Comptroller of Taxes or HM Revenue & Customs, regulators and other authorities who require reporting of processing activities in certain circumstances.
  • to claims handlers and fraud prevention agencies.
  • to any guarantor.
  • to any funder in order to enable funders to assess the value of our assets.
  • to any broker or introducer of an agreement with us.
  • to tracing and repossession agents.

10.3     Your legal rights

 You have the right to:

• Request access to your personal data (commonly known as a “data subject access request”). This enables you to receive a copy of the personal data we hold about you and to check that we are lawfully processing it.
• Request correction of the personal data that we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected, though we may need to verify the accuracy of the new data you provide to us.
• Request erasure of your personal data. This enables you to ask us to delete or remove personal data where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal data where you have successfully exercised your right to object to processing (see below), where we may have processed your information unlawfully or where we are required to erase your personal data to comply with local law. Note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request.
• Object to processing of your personal data where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this ground as you feel it impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes. In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights and freedoms.
• Request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios: (a) if you want us to establish the data’s accuracy; (b) where our use of the data is unlawful but you do not want us to erase it; (c) where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; or (d) you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it.
• Request the transfer of your personal data to you or to a third party. We will provide to you, or a third party you have chosen, your personal data in a structured, commonly used, machine-readable format. Note that this right only applies to automated information which you initially provided consent for us to use or where we used the information to perform a contract with you.
• Withdraw consent at any time where we are relying on consent to process your personal data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide certain products or services to you. We will advise you if this is the case at the time you withdraw your consent. 

Last updated: April 2019